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Western Areas upgrades FY guidance

Western Areas has upgraded its guidance of nickel sold to a record high for the second time in under two months.

Western Areas has upgraded its estimates for the amount of nickel it sold to a record high for the second time in under two months and said that its cash holdings is 14% ahead of management's expectations.

The Australia-based nickel miner now expects 27,819 tonnes of nickel in concentrate sold for 2012-13, up from the previous estimate of 26,271 tonnes at the end of May, as a result of better operational performance (see Brendon Lau's Mining for a ROE revival).

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